The development of new products capable of satisfying customer demands on a timely basis has become a priority for firms seeking to improve their competitive advantage in a global context. However, this challenge has become highly complex due to a growing diversity of both products and processes, higher costs, and unprecedented considerations for quality and service. Despite knowing a great deal about both the characteristics of successful firms and new product development processes, little is known regarding requisite guidelines for successful strategies in product development.

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Originally published in ACR. Copyright the American Society for Competitiveness. Permission to reproduce here granted by the American Society for Competitiveness.